Kinder Morgan lowers sights on Canadian pipeline listing

摘要

Controversy surrounding the Trans Mountain oil pipeline expansion - and the potential impact on delivering the C$7.4bn (US$5.5bn) project - meant Kinder Morgan had to acquiesce to a deeply discounted valuation in order for the C$1.75bn (US$1.3bn) spin-off IPO of KINDER MORGAN CANADA to go ahead. The US pipeline giant had already tried to secure investment in the Canadian business from strategic and financial partners before turning to the public market. IPO investors were willing to participate, but demanded a discount for high risks.